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Lufthansa poised to buy parts of Air Berlin, says source

An Air Berlin sign is seen at an Air Berlin storage hall in Berlin, Germany, August 15, 2017. — Reuters picFRANKFURT, Oct 11 — Lufthansa is poised to agree a deal to buy assets of Air Berlin, a person familiar with the matter told Reuters ahead of a Thursday deadline for talks to carve up the insolvent German airline.

“The deal with Lufthansa is done, there is agreement,” the person said on Wednesday, adding that talks with easyJet were not yet completed.

Air Berlin, which has struggled to turn a profit over the last decade, filed for insolvency on Aug. 15 and a government loan has kept its planes in the air while it negotiates with potential buyers over parts of its business.

It said late last month that negotiations with Lufthansa and Britain’s easyJet would continue until Oct. 12.

The person familiar with the matter said Lufthansa was set to buy Air Berlin’s Niki leisure unit, its LG Walter regional airline and some additional aircraft.

Lufthansa declined to comment on the matter but said it was confident it would meet the deadline for negotiations. EasyJet had no immediate comment. — Reuters